all:
just got a call from HR @ my BB, alerting me that my base salary for 2009 (when I will start) will now be 70k, not the 60k contract I signed. They told me all analysts will receive this pay raise.
needless to say, this was the last call i ever expected to get. i'm still holding out that it was a practical joke.
anyone know anything about this, or is just my bank?
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what division?
That means they are preparing for lower bonuses.
or fewer analysts
What Division?
edit: Never mind guess Sales and Trading...
s+t
My friend just signed S&T with a top BB and signed for 70k and the 10k signing rather than the expected 60k... he is hoping that is not an indication that bonuses will be lower.
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Lol bonuses will be lower....that's pretty much a given.
So basically we can expect the Street to now pay 70k...interesting...
That's good news. Do you know whether the associates get a raise as well? Is the base for associates still 95k on the Street?
i was told it was for first and second year analysts. not sure if that means that the guys who just started will have their base increased for this current year or for next one.
don't know anything about associates.
I've yet to accept my full-time offer and I'm sitting at $60k+$10k. I feel like a tool trying to negotiate a higher salary given the economy right now, but since I haven't accepted yet, would it be worth a shot negotiating?
Don't bother negotiating. You have no leverage. Anyway I can imagine an increase across the Street soon to match.
I thought BBs were trying to cut costs
Shake,
Nothing wrong with a friendly negotiation assuming you are tactful.
A friend at Goldman doing S&T had his base raised to $70K during training - about a month ago.
what does this mean for first years who were paid 60 going into year 2?
thats a miserably low base, do you work for BofA?
having trouble discerning between ignorance or small penis syndrome
£1 = $1.7715
Too many senior guys in NY bitching about that figure. Steep rise in apps from US universities to London offices. As the guys said above, this also has to do with softening you up for a miserly bonus
O well.
oh you poor children why dont you jump out of your windows. Your still better off than 99% of college grad and 99.9% of people 22-24 years old.
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